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Exam (elaborations)

CFP Exam Questions And 100% Correct Answers (A+)

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CFP Exam Questions And 100% Correct Answers (A+)...

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  • October 31, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CFP
  • CFP
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Easton
CFP Exam Questions And 100% Correct Answers (A+)


CFP definition of a felony

offense punishable by a sentenace of at least one year imprisonment or a fine of at least
$1000



CFP board relevant misdemeanor exceptions

1. Driving offences, tickets and misdemeanors that do not involve alcohol or drugs.

2. A first alcohol or drug misdemeanor



Unacceptable conduct that will ALWAYS bar a candidate from certification 5).



1. A felony conviction for theft, embezzlement or other financially based crimes

2. A felony conviction for tax fraud or other tax-related crimes

3. Denial of a financial professional license (other than administrative)

4. A felony conviction for any degree of murder or rape

5. A felony conviction for any other violent crime within the last 5 years



Conduct presumed to be a bar and is PRESUMED to be unacceptable (5)



1. Two or more personal or business bankruptcies

2. Revocation or suspension of a nonfinancial perfessional real estat, attorney license
unless administrative

3. Suspension of a financial professional registered securities representative
broker/dealer insurance, accountant license unless administrative

4. Felony conviction for nonviolent crimes perjery in the last 5 years

5. Felony conviction for violent crimes other than murder or rape occurred over 5 years

,ago



How to remember the seven steps in the financial planning process

Uber Is A Drunk Person's Instant Car



What does an investment adviser's ABC stand for

Advice, Business and Compensation



Exceptions to registration under the Advisers Act (TABLE) if incidental to their
employment

Teachers, Accountants, Brokers, Lawyers and Engineers




Exemptions to SEC registration VIPs are SaFE from exemptions

Venture capital, Insurance companies, Private funds less than $150 million, home State,
Foreign advisers, and securities not on a national Exchange




What is the 1, 2 or 3 test to be an accreditied investor

1. 1 million in net worth

2. $200,000 income single

3. $300,000 income married




Life insurance benchmark

, 10-16 x gross pay?




Emergency fund benchmark

3-6 months?




Education funding benchmark

3k/6k/9k per child per year for 18 years?




Disability benchmark

60/70% of gross pay?




Long term care benachmark

36-60 months?




Personal liability umbrella policy benchmark

1-3 million?

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